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450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS

Submitted by AnaShyNa on Mon, 03/26/2012 - 05:54

450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS

"Some big names on Wall Street are eager to step out of the spotlight after enduring years of financial-crisis turbulence and negative attention from politicians and protesters, said Peter Ressler, the chief executive of RMG Search."

UPDATE 3/25/12, Thanks to my assistant Sophie we have another update for you. I'll try to get this out twice a week or at least once a week. The trend is still strong it seems.

450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDSI don't mind if you re-blog this listing. Save yourself the wear and tear on your karma and do me the favor of including http://americankabuki.blogspot.com in your reposting. Thanks to all who have caught minor errors. Special thank to Gabriel at Facebook Global Mass Resignations for some resignations I did not find in my searches.

Abreviations used:CEO = Chief Executive OfficerCFO = Chief Financial OfficerCIO = Chief Investment OfficerCOO = Chief Operating OfficerEVP = Executive Vice PresidentCRO = Chief Risk OfficerINC = Incorporated (can be private held or publically traded shares) PLC = Public Limited Company (publicly traded shares can be listed or unlisted on stock market)LTD = Limited Company (privately held)LLC = American version of LTD, but can have a shareholder/member that is an INC, often hybrids of bothAG = German version of PLCAB = Swedish version of PLCSA = Society Anonymous in various latin languages - same as PLCNV = Dutch version of PLCBV = Dutch version of LTD LP = Limited Partners (partnership with limited liability)REIT = Real Estate Investment Trust

9/14/11 (NEW ZELAND) AMP NZ Office Limited (ANZO), Mark Verbiest has resigned as a director. His resignation arises due to his desire to devote the necessary time and energy to his prospective new role as Chairman of Telecom, assuming the Telecom demerger is sanctioned by Telecom shareholders.http://goo.gl/LjSI0

9/20/11 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND) There could be no Scottish representative on the board of Lloyds Banking Group, owner of Bank of Scotland, in future after it announced the departure of Lord Sandy Leitch, the chairman of Scottish Widows and group deputy chairman.http://goo.gl/Dx8qs

10/05/11 (UK) UBS co-chief François Gouws of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.http://goo.gl/OuUjr

10/05/11 (UK) UBS co-chief Yassine Bouhara of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.http://goo.gl/OuUjr

10/10/11 (BELGIUM) Dexia (Franco-Belgian bank) its chairman Jean-Luc Dehaene will give up his role on the board of Dexia's Belgian division, which is being sold to the Belgian state as part of a rescue deal, the group said on Monday.http://goo.gl/vyldE

10/11/11 (UK) BlackRock, head of sterling portfolios and manager of the Corporate Bond fund, Paul Shuttleworth, has resigned after 11 years at the firm.http://goo.gl/FMBjw

10/23/11 (USA) Fairholme Capital Management LLC, Director Charles Fernandezstepped down for personal reasons. Fairholme Fund has lost 26 percent of its net asset value due to bets that have backfired on AIG Inc, Bank of America Corp and Florida-based landowner and developer St Joe Co.http://goo.gl/vzTbY

10/24/11 (ICELAND) Icelandic State Financial Investments board members of Icelandic State Financial Investments have resigned following “outside interference” with their Sept. 30 decision to hire Pall Magnusson, the former political adviser to the island’s industry minister, as chief executive officer. [names and positions have been requested from the reporter on 3/9/12]http://goo.gl/lEpz2

10/24/11 (SINGAPORE) Keppel Corporation Limited, Teo Soon Hoe will resign from his role as group finance director Jan 1.http://goo.gl/l90be

11/01/11 (INDIA) Beed District Bank (Coop Bank More directors resign [research still being conducted on the names]http://goo.gl/HD8BQ

11/02/11 (UK) Lloyds Banking Group chief executive, António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. (STILL OUT AS OF 2/24/12 - DEFACTO RESIGNATION)http://goo.gl/3L9gE

11/03/11 (POLAND) Nordea Bank Poland, Wlodzimierz Kicinski resigned from as President of the Management Board of Nordea Bank Poland as of the 10th of November.http://goo.gl/oKUVZ

11/18/11 (SCOTLAND) Scottish Widows Investment Partnership Limited (SWIP) Private Equity Fund, wish to announce the resignation of John Brett from the Board of Directors of the Company, for business reasons.http://goo.gl/MLsp8

11/28/11 (LATVIA) Latvia’s chief banking regulator, Irena Krumane, said she resigned today, a week after the state took over Latvijas Krajbanka AS (LKB1R), the Baltic News Service reported. The bank regulator suspended operations at Krajbanka, a subsidiary of Lithuania’s Bankas Snoras AB, on Nov. 21 and said around 100 million lati ($191.8 million) was missing. The Lithuanian government seized Snoras on Nov. 16 saying assets reported on the lender’s balance sheet were missing.http://goo.gl/mUvLF

11/29/11 (USA)R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bankhttp://goo.gl/XncOc

11/29/11 (FRANCE) AXA Real Estate Investment Managers, Global head of business development, strategy and research for Kiran Patel, has handed in his resignation. Patel was with the firm for 11 years.http://goo.gl/iGjB6

12/19/11 (DENMARK) Danske Bank Eivind Kolding has resigned as Chairman of the Board of Directors and from the three board committees on which he served, He continues as member of Danske Bank’s Board of Directors until he assumes the position of Chairman of the Executive Board on 15 February 2012. On the same day, at the latest, Eivind Kolding will resign from the A.P. Moller-Maersk Group.http://goo.gl/06c2b

12/20/11 (UK) Prudential (UK) Chairman Harvey McGrath has informed the Board of his intention to retire from the Board in 2012 once a successor has been found.http://goo.gl/IPOzf

12/21/11 (USA MN) Voyager Bank, fired CEO trade accusations, New details have emerged in Voyager Bank's firing of its CEO in a court filing that accuses him of defrauding the bank of $15 million. The former CEO, Timothy Owens, has sued the bank for wrongful termination and accused the bank of defaming him.http://goo.gl/3Q1Vg

1/17/12 (UK) Morgan Stanley Intl, chairman Walid Chammah is retiring. An inside source speculated that it could mean that the company had suffered exposure to European sovereign debt woes under Chammah's purview.http://goo.gl/e7vS7

1/20/12 (SOUTH AFRICA) First National Bank's sharia banking division is in a state of flux after it was hit by a corporate governance scandal in which its chief executive, Ebi Patel, was put on "special leave" for almost a month while an internal probe was conducted. Patel has been reinstated, but is facing disciplinary action. Islamic finance forbids the payment and receipt of interest (riba), and investment in some industries. Sharia law states that interest-bearing transactions result in economic ills such as unemployment and high inflation. Trading in derivatives and speculative investment are also forbidden. Sharia law requires all transactions to be backed by tangible assets. http://goo.gl/NmGJP

1/20/12 (SOUTH AFRICA) South African deputy economic development minister Enoch Godongwana quit his post this week in the face of growing outrage in government circles about his involvement in a company that allegedly defrauded clothing factory workers of R100-million of their pension fund money.http://goo.gl/ZADvn

1/24/12 (SWITZERLAND) Global Fund to Fight AIDS, Tuberculosis and Malaria, Dr. Michel Kazatchkine, a French clinical immunologist and head of the $22.6 billion fund has abruptly resigned, since revelations about corruption and misspending severely rattled some of its biggest donors. The resignation came on the eve of the World Economic Forum meeting in Davos, which played a role in its creation a decade ago. A dinner for the public-private fund is planned Thursday with U.N. Secretary-General Ban Ki-moon and major backers Bill Gates and the Bill & Melinda Gates Foundation. The shakeup resulted from an internal review to address problems highlighted in Associated Press stories last year about the loss of tens of millions of dollars in grant money because of mismanagement and alleged fraud. Its biggest private donor is the Bill & Melinda Gates Foundation, which has pledged $1.15 billion and provided it with $650 million so far. http://goo.gl/bqXs8

1/25/12 (Papua New Guinea) Bank South Pacific (BSP) chairman Kostas Constantinou resigned as a director of the Board of Bank of South Pacific Limited and its subsidiaries.http://goo.gl/vh3az

1/25/12 (UK) SOFIA PROPERTY FUND LIMITED, Gerry Williams has resigned as a Director, following his resignation from Ardel Holdings Limited ("Ardel") where he was CEO. Ardel is the holding company of Ardel Fund Services Limited which provides administration services in Guernsey to the Company.http://goo.gl/kDfVv

1/25/12 (USA NY) Fortress Private Equity, CEO Daniel Madrid (aka Daniel Mudd)has resigned. Madrid was forced to leave in order to deal with SEC allegations. Prior to joining Fortress, Madrid served as Fannie Mae CEO and was forced to resign. SEC sued Madrid and former Freddie Mac CEO Richard West Long (aka Richard Syron) for hiding hundreds of billions of dollars in subprime loans. Madrid denied the SEC allegations saying the US govt. and investors were informed of Fannie Mae’s loan data.http://goo.gl/u9IdB and http://goo.gl/v94ik and http://goo.gl/tXQwP

2/02/12 (USA) NIR Group hedge funds, Corey Ribotsky was forced out of NIR by Pricewaterhouse-Coopers, the court-appointed liquidator, following allegations of fraud by the Securities and Exchange Commission. In September, the SEC sued Ribotsky and NIR for taking more than $1 million of investors’ money to buy cars and watches.

2/08/12 (USA OH) Cleveland International Fund (CIF) private equity fund, A.Eddy Zailaunched and led the Cleveland International Fund, an investment outfit that pairs wealthy foreign investors hoping for U.S. residency with job-creating projects. Zai resigned from his job this week, before being indicted in a bank-fraud scheme that, according to investigators, contributed to the collapse of a credit union in Eastlake. http://goo.gl/tgamf

2/13/12 (UK) Goldman Sachs confirmed on Monday that George N. Mattson, one of the firm’s top deal makers in the industrial sector, will retire. He was a senior relationship banker with a client list that included General Motors, General Electric and Caterpillar.http://goo.gl/vgnq2

2/13/12 (HONDURAS) Honduras finance minister William Chong Wong, resigned on Monday after the International Monetary Fund (IMF) said the country did not reach its deficit and monetary targets for 2011.http://goo.gl/drgHY

2/19/12 (MALTA) Bank of Valletta, director of the Multi-Manager Fund John C. Ripard, has resigned being reprimanded by the MFSA for disposing of his holdings in the Fund whilst in possession of sensitive information which was not available to the public.http://goo.gl/1li3r

2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates.http://goo.gl/Z1rnw

2/22/12 (UK) UBS AG’s (UBSN) Doug McCutcheon, head of Healthcare Banking in Europe, Middle East, Africa and Asia-Pacific region, has left Switzerland’s biggest bank after 25 years at the firm.http://goo.gl/Dnxqh

2/23/12 (UK) Goldman Sachs Nordic M&A banker Luca Ferrari has decided to retire from the firm, clients included the largest telecommunications operator in Spain the Spanish telecommunications. http://goo.gl/qmCh3

2/29/12 (GUYANA) National Investment and Commercial Investments Ltd. (NICIL), Executive Director Winston Brassington resigns, “We feel that (Winston) Brassington knows everything…A to Z about all the transactions,” said Chairman of the Alliance for Change (AFC), Khemraj Ramjattan, as he sounded a warning that controversial figure could be subpoenaed to appear before the Parliamentary Economic Sector Committee.http:// goo.gl/L7I35

3/01/12 (ITALY) Italian Banking Association Chairman Giuseppe Mussari talks to reporters in Rome after he and seven other executives offered to resign in protest over new banking-fee rules included in the government's legislation on boosting competition.http://goo.gl/3llyT

3/06/12 (JAMAICA) Jamaica’s Financial Services Commission (FSC), Executive directorRohan Barnett, has resigned the position, the Ministry of Finance, Planning and the Public Service announced this afternoon. http://goo.gl/FBwFo

3/06/12 USA CT) Wells Fargo & Co. said that Mackey McDonald, one of the last remaining directors from Wachovia is retiring.http://goo.gl/F1O4v

3/06/12 (UK) Sterling Green Group has announced that Philip Kanas, a non-executive director, has decided to resignSterling Green Group PLC became a cash shell following the disposal of their subsidiaries Taxdebts Ltd, Sterling Green (Mortgages) Ltd and the back books of the clients of Sterling Green Ltd. during December 2011. http://goo.gl/qc3jB

3/08/12 (ISRAEL) Bank of Israel Governor Stanley Fischer will hand in his shock resignation in the coming days and take up a new position as head of the Bank of Zambia. Finance Minister Yuval Steinitz is believed to be furious with Fischer's decision. Treasury officials said he even canceled his participation in the office's annual Purim party in order to convince Fischer to reverse his decision. http://goo.gl/0DlSA

3/09/12 (MONGOLIA) Mongol Bank President Alag Batsukh submitted his resignation letter to Speaker of Parliament D. Demberel at the end of last month. He described his reason for resigning as a lack of support by Parliament. http://goo.gl/RDmNx

3/09/12 (MONGOLIA) Asia Pacific Securities, General Manager Narantuguldur Saijrakh recently resigned, to focus on his role as Director of Khan Investment Management, investment advisor to the Khan Mongolia Equity Fund - the first open-ended investment vehicle with monthly dealing that invests in Mongolia related equities listed both domestically and internationally.http://goo.gl/2T4R6

3/12/12 (UK and IRELAND) Allfunds Bank, head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.http://goo.gl/4DF6i

3/12/12 (USA) ICAP, CEO of the electronic broking business David Rutter step down following a restructuring of the business.http://goo.gl/SUHqW

3/12/12 (UK) SVG Capital, chairman Nicholas Ferguson resigns. His departure left him well placed to succeed James Murdoch as chairman of BSkyB should the latter bow to investor pressure and step down. Other investors in the satellite broadcaster suggested Ferguson might be seen as too close to Murdoch to win the support of institutional shareholders.http://goo.gl/z19wH

3/13/12 (USA) Paulson & Co.'s, partner and head of the global bank team Robert Lacoursiere has quit to form his own hedge fundhttp://goo.gl/I8UNd

3/13/12 (AUSTRALIA) ASX Ltd, Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.http://goo.gl/gJN33

3/13/12 (UK) JP Morgan, Asset Management European chief Jamie Broderick is to step down more than 20 years at the firm.http://goo.gl/MV65V

3/22/12 (UK) Bank of America Corp, Jonathan Moulds steps down, helped build the bank’s over-the-counter derivatives trading business and held positions including global head of rate derivatives trading, head of global derivatives and head of global rates and commodities.http://goo.gl/AVXL2

3/25/12 (EGYPT) National Bank of Egypt, CEO Tarek Amer said that he will step down from his position at the end of 2012.http://goo.gl/tC7Ma

█▓▒░ End of list as of 3/15/12 ░▒▓█Addendum:It is not known under what circumstances these individuals have left their positions, I make no judgement on that. I find the timing of so many resignations extremely curious and a temporal marker in history of high significance. No one should assume I make any judgement about the character of these people. I frankly don't know their reputations except for a few rather famous ones.This list includes Banks, Investment Houses, Sovereign Wealth Funds, Equity Funds, Savings Retirement Funds and other shadow banking organizations. The line is very blurry between these entities, some are owned by banks some are banks, some invest in banks as well as owning entire industries (common in Hong Kong and Japan).